Posts Tagged ‘HybridScryptHash256 crypto’

Mediterraneancoin (MED) is a derivative version of Bitcoin/Litecoin using a new proof-of-work algorithm called HybridScryptHash256. HybridScryptHash256 integrates the best of Hash256 and Scrypt algorithms (respectively the core Proof of Work algorithms of Bitcoins and Litecoins), allowing the reuse of the less powerful ASICMiner Block Erupter devices. The idea is to allow all the users of USB Block Erupter, Bitmain AntMiner U1 and similar small ASIC devices to mine an altcoin without having “whales” coming and disrupt mining. With HybridScryptHash256, each Hash256 mining iteration with an erupter is encapsulated between two Scrypt stages (a memory intensive algorithm whose parameters depend on the current difficulty). In this way, a good amount of CPU power (or maybe even GPU power) is necessary for each Hash256 dedicated hardware. If a miner owns a lot of Hash256 computing power, in order to mine Mediterraneancoins, he will need also a corresponding CPU power. If the correspondent CPU power is not available, then the Hash256 computing power is automatically limited. And since the proof-of-work algorithm is completely different from Hash256 and Scrypt algorithms, in order to mine, you need a modified miner.

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